IDACORP, Inc. (NYSE:IDA) Shares Sold by NBC Securities Inc.

NBC Securities Inc. reduced its stake in IDACORP, Inc. (NYSE:IDA) by 0.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 26,664 shares of the energy company’s stock after selling 100 shares during the period. NBC Securities Inc.’s holdings in IDACORP were worth $2,748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky raised its stake in IDACORP by 19.7% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 42,569 shares of the energy company’s stock worth $4,185,000 after acquiring an additional 6,997 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of IDACORP by 3.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 266,005 shares of the energy company’s stock worth $26,154,000 after purchasing an additional 8,479 shares during the last quarter. Wellington Management Group LLP increased its position in shares of IDACORP by 50.3% during the fourth quarter. Wellington Management Group LLP now owns 1,634,463 shares of the energy company’s stock worth $160,700,000 after purchasing an additional 546,818 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of IDACORP by 29.5% in the 4th quarter. Quadrature Capital Ltd now owns 19,001 shares of the energy company’s stock valued at $1,868,000 after purchasing an additional 4,328 shares during the last quarter. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of IDACORP in the 4th quarter valued at about $223,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IDA has been the topic of several research analyst reports. Bank of America assumed coverage on IDACORP in a research report on Thursday, September 12th. They set a “neutral” rating and a $110.00 price target on the stock. Jefferies Financial Group started coverage on shares of IDACORP in a research report on Friday, September 20th. They issued a “hold” rating and a $110.00 price target for the company. Morgan Stanley raised their price objective on shares of IDACORP from $102.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company upped their target price on shares of IDACORP from $98.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, IDACORP currently has a consensus rating of “Hold” and a consensus price target of $103.57.

IDACORP Price Performance

IDA stock traded up $1.86 on Tuesday, reaching $104.46. The company had a trading volume of 24,331 shares, compared to its average volume of 341,691. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.17 and a current ratio of 1.55. The company’s fifty day moving average is $102.36 and its 200 day moving average is $97.15. The company has a market cap of $5.56 billion, a P/E ratio of 20.60, a PEG ratio of 3.38 and a beta of 0.60. IDACORP, Inc. has a 1 year low of $86.43 and a 1 year high of $105.24.

IDACORP (NYSE:IDA) last issued its quarterly earnings data on Thursday, August 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.34. The business had revenue of $451.04 million for the quarter, compared to the consensus estimate of $420.56 million. IDACORP had a return on equity of 9.16% and a net margin of 15.04%. During the same period in the prior year, the business earned $1.35 earnings per share. On average, research analysts forecast that IDACORP, Inc. will post 5.39 earnings per share for the current year.

IDACORP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 5th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, August 5th. IDACORP’s dividend payout ratio is presently 66.67%.

IDACORP Company Profile

IDACORP, Inc, together with its subsidiaries, engages in the generation, transmission, distribution, purchase, and sale of electric energy in the United States. The company operates 17 hydropower generating plants located in southern Idaho and eastern Oregon; three natural gas-fired plants in southern Idaho; and interests in two coal-fired steam electric generating plants located in Wyoming and Nevada.